NEWS Finance        07/09/2020

Turkish Treasury reported a cash surplus of USD 4.1 billion in August 2020

Turkey’s Ministry of Treasury and Finance announced that it recorded a cash surplus of TL 30.4 billion (USD 4.1 billion) for August 2020. Total income in August was TL 112.2 billion (USD 15.3 billion) and total expenditure was TL 81.9 billion (USD 11.2 billion). Expenditure was made up of non-interest expenditure of TL 70.7 billion (USD 9.6 billion) and interest payments of TL 11.2 billion (USD 1.5 billion).

 

For the first eight months of 2020, there was a cash deficit of TL 109.8 billion (USD 16.6 billion). Total income for the first eight months of 2020 was TL 662.4 billion (USD 99.9 billion) and total expenditure was TL 775.3 billion (USD 116.9 billion). Of total expenditure, non-interest expenditure was TL 692.8 billion (USD 104.5 billion) and interest payments were TL 82.5 billion (USD 12.4 billion).

 

The balance for the year of 2019 reflected a deficit of TL 130.5 billion (USD 23.1 billion). The Treasury received TL 897 billion (USD 167.2 billion) in revenue during the year of 2019, while expenditures were shown as TL 1,032.8 billion (USD 182.8 billion). Expenditure was made up of non-interest expenditure of TL 934.5 billion (USD 165.4 billion) and interest payments of TL 98.3 billion (USD 17.4 billion).

 

In 2018, the Treasury's cash balance showed a deficit of TL 70.4 billion (USD 16.7 billion). Revenue was TL 773.8 billion (USD 170.4 billion), while expenditures, including interest payments, totalled TL 850.5 billion (USD 187.3 billion) in this year. Expenditures included TL 70.5 billion (USD 15.5 billion) in interest payments, and non-interest payments amounted to TL 780 billion (USD 171.8 billion).

 

The U.S. dollar/Turkish lira exchange rate at the end of August 2020 was TL 7.33. The average rate used for the first eight months of 2020 was TL 6.63. The average rates used for 2019 and 2018 were TL 5.65 and TL 4.54 respectively.



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